The UK- and JSE-listed Capital Shopping Centres Group said on Wednesday that it had completed an agreement with Equity One, according to which the latter had acquired Capital Shopping Centres Group's US subsidiary, known as Capital and Counties USA.
Capital Shopping Centres Group will receive 4.1 million shares of Equity One common stock and 11.4 million joint-venture units.
The group may redeem its units in the joint venture for cash or, at Equity One's discretion, Equity One common stock on a one-for-one basis.
Capital Shopping Centres Group intends to retain its interest in Equity One and the joint venture in order to participate in its growth potential.
Source: I-Net Bridge
Publisher: I-Net Bridge
Source: I-Net Bridge
